Kickstarter is evolving and wants to standardize existing crowdfunding systems. The company has decided to create an independent company that will be responsible for developing an open crowdfunding protocol based on a public blockchain. Kickstarter will apply this protocol in its existing crowdfunding system in 2022.
Born2Invest mobile application is bringing all the crypto and business news from trusted sources to a single screen so you can stay on top of the market. The application is aggregating the most important and breaking news from relevant websites, the list is always revised and updated with new resources. Download our companion app for free and stay informed.
A more transparent, secure and decentralized crowdfunding protocol
Big changes are coming at Kickstarter, at least on the source code of its participatory funding site. Determined to bring more transparency, decentralization, and security to its crowdfunding processes, the company has just published a blog post titled “the future of creative crowdfunding projects.” In this post, Kickstarter announces that it will support “the development of an open-source protocol, which will be a decentralized version of the current Kickstarter protocol.”
This protocol will be based on a public blockchain, so that “even competitors can build on it or use it,” Kickstarter says. To develop this open-source decentralized protocol, the crowdfunding company will create an independent organization that does not yet have a name. This will be equipped with funding, a board of directors, and Kickstarter will be one of its first customers.
Big change for Kickstarter, but no impact on users
Kickstarter will also create “an independent governance lab” that will oversee the development of the governance of this open-source protocol. This will be built using Celo, an open-source blockchain that relies on the proof-of-stake system, which is less energy-intensive and more environmentally friendly.
For users, Kickstarter will remain the same, even when its internal crowdfunding system runs on the future open-source protocol. This is similar to Twitter, which has also launched its own decentralized social networking standard, dubbed Bluesky. Announced in 2019, Bluesky is still in its infancy, with a technical team only working on its development since this summer.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in tom’s guide, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [1xBet Affiliate Program]
Wanna discover one weird sports betting niche with plenty of low-hanging fruit just waiting for you to exploit? Then read...
Which Are the Most Important Fintech News from February 2024
Monite secured $6 million in a top-up financing round, bringing its total seed-stage funding to $16 million. The funds will...
Spanish Pharma Listed Companies Reduce Their Profits by 37% in 2023
Of the Spanish pharma listed companies, PharmaMar has suffered the most significant drop in profits due to generic drug competition...
How Much Does Europe Invest in Sustainability
Europe is moving rapidly towards a renewal of the regulatory framework for sustainability , with the obligation for almost 50,000...
The German Medical Cannabis Market Could Be Worth Three Billion
Currently, the German medical cannabis market serves a relatively small part of the population, with approximately 28,000 patients, or less...
Markets6 days ago
Why a Financial Black Swan on the Stock Market Remains a Possibility
Crypto2 weeks ago
With Bitcoin ETFs Behind It, BTC Will Rise to $80,000 – Analyst Says
Biotech4 days ago
Oryzon Cuts Losses by 20.7%, Faes Farma Earns almost 92 Million in 2023
Impact Investing1 week ago
Medical Microinstruments Raises an Impressive Amount of $110 Million